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UK Consumers are continuing to choose own-brand products to try and manage their ever-increasing grocery bills which are second only to energy bills. Here’s what the real data (and Kantar’s resident expert Fraser McKevitt, head of retail and consumer insight) reports.
As the cost of living crisis progresses, we at Atlante remain committed to helping our clients’ brands grow. We stay on top of global food trends through carefully tracked market insights.
Our team is proud to take action on the global food crisis with ongoing charitable efforts and industry-supporting events. To best serve our clients throughout this tricky time, we also report the latest data on the changing grocery price landscape.
Back in July, it was reported by the Grocery Gazette that own-brand products had taken a hit during the pandemic where customers chose familiarity and security, which were offered by the big-name brands, thus private label sales fell in Europe in 2021.
We reported mid-way through October that UK consumers are favouring own-brands amid the cost of living crisis, as in September own label sales increased by 8.1% whilst branded items declined by 0.7%.
Then in November supermarket own label sales jumped again by 10.3% , according to Kantar’s figures. There were many factors affecting this, one of the main ones being annual grocery bills are likely to rise by £682.
This month after a record-breaking December, Kantar figures again showed take-home grocery sales increased by 7.6% in the 12 weeks to 25 December 2022. Year-on-year growth in December was even higher at 9.4%, the fastest rate recorded since February 2021, with sales reaching a new record at £12.8 billion.
This month according to Paul Stainton, as we start 2023 it’s no surprise, then, that retailers are pushing the #value message in all communications, as consumers reflect on the amount they spent for Christmas and prepare for another year of careful and considered spending at this time of high inflation.
The value tier of #privatelabel is a key tool being used by many retailers, with #morrisons leading the way last week, announcing price cuts across around half its “Savers” value tier range of 260 products.
Atlante leverages trend and market knowledge to develop successful products, both private label and tertiary brands. To use our expertise through every phase of project management, you can reach out here. We'll also be at the marca event in Bologna 18th & 19th January 23 if you'd like to learn more.
Where should a supermarket's own-brand buyer begin? If you’re looking to source quality Italian products, Atlante can help you find the right producers and suppliers.
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